"Asia arguably learned its lessons from the 1997 financial crisis a bit too well, at least for some in the West. Asian banking systems have weathered the storm without one major bailout to date. In the wake of the 1997 crisis, the region had to rely heavily on exports to rebuild their economies. As a result, exports grew from less than 40 percent of Asian GDP before the 1997 crisis to more than half in the post-crisis period.

This also led to Asian central banks accumulating massive foreign exchange reserves of $5 trillion in 2009 ($2.3 trillion in China alone) of the world's total reserves of $8.8 trillion. Now the West would like Asia to use those massive reserves to bolster their domestic economies to encourage Asian consumerism as a new engine for global growth."

"Delhi's new airport buildings, and the breathtaking Bandra-Worli Sea Link in Mumbai, the country's financial capital, are two of the clearest examples that infrastructure development has become a top priority. They are a hint of the leap that India might make in terms of productivity if it fixes its overburdened, old fashioned and investment-starved physical infrastructure.

Decades of underinvestment have left India crippled by a severe infrastructure deficit that greatly impedes its ability to sustain high growth rates and alleviate poverty. Roads in the main cities are frequently gridlocked; in rural areas they have crumbled away. Ports are close to capacity, while nuclear power stations, short of fuel, run under capacity. Cities, which in other parts of Asia have helped spur growth, are often devoid of planning in India. Only a quarter of India's 88 cities with populations of more than 500,000 have formal transport systems."

"Indonesia has never been known for ease of doing business, but certain regions and cities are beginning to understand the importance of making it simpler for entrepreneurs to get started. Yogyakarta is ranked as the easiest Indonesian city in which to start a business, way ahead of the capital, which ranks only seventh.

Yogyakarta only requires eight procedures for a business to get a building permit, putting the city in fifth position globally in that category. Entrepreneurs in Jakarta, meanwhile, have to suffer through 14 procedures to get a similar result. Unfortunately, Jakarta is the city that represents Indonesia on the global list and consequently the country's world rank is way down in 122nd place."

"Vietnam is to be commended for its rapid and proactive response to the recent global downturn. A year ago, Vietnam was considered to be one of the countries in the world most exposed to the effects of the global financial crisis, due to its strong reliance on external finance and export markets to sustain its fast rate of economic growth. Over the past year the government has implemented measures to stimulate economic activity during the crisis and mitigate its impact on the most vulnerable segments of the population. Today Vietnam is again emerging as one of the strongest economies in the region.

However, as we come out of the crisis it is important not to lose sight of the challenges that remain. Vietnam now stands at the threshold of achieving middle-income country (MIC) status, which will bring both challenges and opportunities. But Vietnam will need to plan now to avoid the 'middle income trap' and ensure that further development is inclusive, equitable and environmentally sustainable."

"Mongolia is a country on the point of transformation. The signing of a joint venture between the Mongolian government and the Ivanhoe-Rio Tinto alliance in October 2009, to exploit the Oyu Tolgoi copper mine, has set a precedent for the mining industry. The $4 billion investment expected over the next nine years in this project alone is roughly equivalent to Mongolia's entire GDP in 2009. And there are several other projects with similar world-class assets.

Despite the scale of the mining projects, Mongolia remains remarkably underdeveloped. Opportunities in the secondary industries, from banking to real estate, are arguably greater than those in mining. Mongolia ranks in the top third of countries in terms of ease of doing business -- above Spain and Poland, and much higher than any of the BRIC countries."

"Indonesian officials said they have cleared a regulatory logjam holding up $1 billion in funding from Middle East investors for a railroad project, a major step forward for a nation that has failed in recent years to attract large amounts of foreign capital because of bureaucratic hurdles. The 130-kilometer track, the first private railway in Indonesia, will link the Muara Wahau coal mine in East Kalimantan's East Kutai district with the coast.

Indonesia's abundant supplies of coal, palm oil and other natural resources have attracted investment from China, the Middle East and India in recent years. But legal uncertainties and such bureaucratic hitches as problems over licensing and land titles have delayed many projects. That has prompted investors from the U.S., Canada, Australia and Japan to postpone large-scale natural-resource investments."

"More families of overseas Filipino workers (OFW) are saving a portion of the money sent home by their relatives, ensuring they have funds for rainy days while flushing the financial system with funds that could be tapped for investments, the Bangko Sentral ng Pilipinas (BSP) said.

Results of the BSP's fourth quarter consumer expectations survey also showed 95.2% of OFW families used remittances for household expenses. Over 65% spent these on education, 62.2% on medical expenses and almost half on debt payments."

"The technology and economic virtues of broadband Internet access have been well documented but what of the social and development benefits and how best are they made relevant and meaningful to Thailand? Today Thailand has 1.2 million households connected out of 19 million, or seven percent, a very low number compared to others in the region.

Thailand does have a last-mover advantage and can learn from the mistakes of others. Korea taught the world that meaningful broadband needed a holistic approach. Vietnam, affordability. For China, broadband is a prime mover. In Australia, it is about lowering social inequity. Japan has shown the way for data services and in Bangladesh, it is about the invention of the low-income killer app."

"When the Indian Ocean tsunami hit five years ago, Sri Lanka's coastal inhabitants believed they would never recover. But five years on, amid the memorials and museums, lies what some inhabitants say is the real tribute to this tragedy. A 'model village' project which provides free services to more than 20,000 people, which villagers say was neglected before the disaster.

Providing services ranging from health and dental care, photography and diving classes, to a sports academy for the youth -- complete with a 25-meter length pool and a cricket stadium -- the rural empowerment project has touched the lives of many. Most residents agree that the level of development which the foundation has brought would have not been achieved if the tsunami has not struck."

"Transport ministers and experts from across Asia and the Pacific have opened a week-long series of meetings at United Nations headquarters in Bangkok to accelerate regional integration by further linking national railway networks and setting up major hub stations connecting inland economic centers. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) will provide strategic guidance for the development of transport, transit and the improvement of transport capacity in the region, and address the effect of transport on the economy, environment and society.

The focus of the meeting will be on so-called 'dry ports' -- stations of global importance, most of which are located inland and function like ports in coastal areas -- which will act as consolidation and distribution centers in the hinterland, spur growth and bring the benefits of economic and social development to a wider population."

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